“The shorter DIs did not keep up with the dollar and were relatively well-behaved, even though they made maximums throughout the session. The perception is that the dollar’s rise is much more technical, an adjustment, than a perception of improvement in the assets,” said H.Commcor operator Cleber Alessie.

Alessie stressed that longer maturities have risen in line with the U.S. currency.

“It was a day of profit-taking,” he pondered.

The January 2019 DI contract rate closed stable at 6.625%, while the January 2020 DI rate was at 7.91%, from 7.93% in the previous settlement. The January 2021 DI contract rate settled at 8.94%, from 8.93%.